Business Daily from THE HINDU group of publications
Wednesday, Nov 21, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Nov 21, 2007 ePaper | Mobile/PDA Version |
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Markets
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Derivatives Markets Columns - On the hedge 
Our Bureau Chennai, Nov. 20 The sharp fall in later part of the day pushed the Nifty November future down by 2.37 per cent. The premium of Nifty November future with respect to the spot close slipped to four points as against Monday’s premium of about 17.5 points. During intra-day, the premium was as high as 20 points. Open interest positions also moved up by 4 per cent. Nifty future also saw a modest rollover of 10 per cent to December month series. The Nifty December future finished in discount of about six points, while open interest positions jumped 34.47 per cent. Momentum counters such as GMR Infra, IDBI, IDFC, IFCI, SAIL and RNRL remained active. Apart from these counters, Reliance Industries and SBI were the most active counters. Except for GMR Infra, SBI and IDBI rest of these counters added open interest positions. IFCI saw sharp accumulation of open interest positions (16.27 per cent), the IFCI November future slipped 1.91 per cent, due to last hour sell-off. It was ruling around its peak level of Rs 106 during most part of the day. Fears that open interest might touch the permissible limit of 95 per cent seemed to have affected the counter. Rollover of position was just meagre by 5 per cent. Securities banThe trading in derivative contracts of Neyveli Lignite, IFCI, Alok Textiles, Essar Oil, Arvind Mills, Adlabs Films, and Reliance Petroleum has been under NSE ban as open interest positions have crossed the 95 per cent of the market-wide position limit. More Stories on : Derivatives Markets | On the hedge
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